Latest Mortgage Rates Canada
Compare current rates from Canada's top lenders including Big 6 Banks and monoline lenders. Updated twice daily.
CMHC Mortgage Insurance Calculator
Calculate your mortgage default insurance premium.
CMHC Mortgage Insurance Calculator
Minimum required: $35,000 (6%)
CMHC Insurance Required
Mortgage Amount
$540,000
Loan-to-Value (LTV)
90.0%
Total Mortgage
$562,950
New LTV with Premium
93.8%
CMHC Premium Rates (2025):
- 65% - 80% LTV: 2.25%
- 80% - 85% LTV: 3.35%
- 85% - 90% LTV: 4.25%
- 90% - 95% LTV: 5.65%
- 95% - 97% LTV: 6.75%
Provincial sales tax (HST/QST) may apply on top of the premium.
Mortgage Negotiation Guide
Save $5,000-$25,000 with insider secrets banks don't want you to know.
Learn MoreExplore More Calculators
Try these other free Canadian mortgage tools to plan your home purchase.
Frequently Asked Questions
What is CMHC mortgage insurance?
CMHC (Canada Mortgage and Housing Corporation) mortgage insurance protects lenders if you default on your mortgage. It's required in Canada when your down payment is less than 20% of the purchase price. The premium is added to your mortgage amount and paid over the life of the loan.
How much does CMHC insurance cost?
CMHC premiums range from 0.6% to 4.0% of your mortgage amount depending on your down payment. With 5% down, you pay 4.0%. With 10% down, 3.1%. With 15% down, 2.8%. The premium decreases as your down payment increases. Use our calculator to see your exact premium.
Is CMHC insurance mandatory?
CMHC insurance is mandatory for high-ratio mortgages (less than 20% down) from federally regulated lenders. If you put 20% or more down, you avoid CMHC insurance entirely. Some credit unions and private lenders may have different requirements.
Can I avoid CMHC insurance?
Yes, by making a down payment of 20% or more. Other options include getting a gifted down payment to reach 20%, using the Home Buyers' Plan to withdraw from your RRSP, or purchasing a less expensive home. Some alternative lenders also offer no-CMHC options with higher rates.
Is CMHC insurance tax deductible?
No, CMHC insurance premiums are not tax deductible. However, in some provinces (Ontario, Quebec, Manitoba), provincial sales tax on the CMHC premium may be eligible for rebates or credits. The premium itself is rolled into your mortgage and paid over time with interest.